What’s Next for Crypto: The Merge, the Dacxi Coin, and Much More
Exciting news from Dacxi Coin is coming your way, with an unmissable webinar next week. See more below and make sure to register!
The Merge is almost here.
The ‘Bellatrix’ update, which is the last major upgrade before Ethereum moves from proof-of-work (PoW) to proof-of-stake (PoS), has begun. The purpose of this upgrade is to ensure validators are producing updated Beacon Chain blocks ahead of The Merge. Currently, the Ethereum mainnet (PoW Chain) and the Beacon Chain (PoS Chain) operate in parallel to one another. Although the Bellatrix upgrade doesn’t represent the entirety of The Merge, it is the beginning of the two-part process.
In preparation for The Merge, there is now a temporary suspension of deposits and withdrawals for ETH, USDT, and DACXI on our platform. The service will be available again post-testing, within 48 hours of The Merge’s projected completion date of around September 14th.
For everything you need to know about The Merge, read our last blog.
If you have any questions, please don’t hesitate to contact us at hello@dacxi.com.
Weekly highlights
- Swiss bank UBS has raised its odds for a US recession to 60%, up from 40% in June.
- As a counterpoint to the above, the USD has jumped in value to a 20-year high following strong employment data and the FED’s recent interest rate hikes. This suggests that a recession might not be a foregone conclusion. However, FED President John Williams says rates will stay high for a while.
- Eurozone inflation has hit a record 9.1% as energy and food prices soar — European Central Bank has promoted steady interest rate hikes to minimize the risks of recession in the Eurozone.
- California has passed a bill to license and regulate crypto firms.
- Ethereum miner balances have reached a four-year high as ETH miners work extra hard in anticipation of The Merge.
- Ethereum Layer 2 Arbitrum has completed its Nitro update for faster and cheaper transactions.
Bitcoin update
Early in the week in the presence of lighter selling pressure, Bitcoin pushed higher, reaching weekly highs above $20,500, but then reverted to $19,660 — which was the top of the 2017 bull run — and is acting as firm downside support in 2022. Bitcoin closed at $20,007, returning 2.23% week on week.
Ethereum update
A move back above Ethereum’s 100-day moving average was followed by consolidation. Ethereum, closed at $1,580 for a 10.71% gain week on week.
News from the wide world of crypto
Subsequent to the numerous DeFi attacks in 2022, resulting in investors losing billions of dollars, the FBI has requested that DeFi platforms increase their security measures. Likewise, the bureau warned investors against the potential for vulnerabilities in these platforms. The FBI specified that individuals should first conduct thorough due diligence when using DeFi platforms. Investors were also warned to utilize protocols that have been audited by reputable firms and in existence for a long time.
Meta has integrated Ethereum, Polygon and Flow NFT cross-posting for Facebook and Instagram, as part of its push for interoperability. Event organizers using Ticketmaster will now be able to issue tickets as NFTs on the Flow blockchain. Although Ticketmaster originally partnered with Polygon to create NFT tickets for NFL games, the team reelected Flow for this purpose early this year. Beyond issuing NFT tickets, organizers will be able to include unique features including special experiences, celebrity meetups and memorabilia. Furthermore, Ticketmaster is seeking to increase liquidity for tickets through an NFT ticket marketplace enabling these digital assets to be traded in a peer-to-peer manner.
Update Webinar: What’s Next for the Dacxi Coin
For the first time, through the Dacxi Chain, entrepreneurs and investors will be directly connected within an integrated global ecosystem. The Dacxi Coin will be driven by the Dacxi Chain — the first global crowdfunding network.
Join us to find out the latest exciting new developments, and what it will mean for you in the next crypto growth wave.
Wednesday, 14 September, 7:00 pm AEST I Register now
